XML 83 R20.htm IDEA: XBRL DOCUMENT v2.4.0.6
Subsequent Events
12 Months Ended
Dec. 31, 2012
Subsequent Events [Abstract]  
Subsequent Events
SUBSEQUENT EVENTS
On January 18, 2013, Conexant Systems, Inc., or Conexant, was in default under its lease at Canyon Plaza. Conexant's lease expires in June 2017 and includes the entire property, but Conexant has subleased approximately 115,000 square feet or approximately 57% of the premises. The Conexant lease represents approximately 3.5% of the Company's total commercial square footage and generated approximately 5.5% of its consolidated property's annualized minimum base rent as of December 31, 2012. Subsequent to their default, Conexant filed for bankruptcy.
On January 31, 2013, we retired the remaining balance on the $12,000 note payable related to our purchase of 111 Sutter Street.
On February 4, 2013, we entered into a three-year lease with Fannie Mae at Monument IV at Worldgate for approximately 83,000 square feet. The lease commences in March 2013 and contains one two-year lease renewal option.
On March 5, 2013, our board of directors approved a gross dividend of $0.10 per share to stockholders of record as of March 27, 2013, payable on May 3, 2013.
*  *  *  *  *  *